Europe: Sanofi to Buy $700 Million Stake in Alnylam

Nigel Thomas
13 Jan, 2014
New York City

Alcatel Lucent plans to sell-off its enterprise business. Amec agreed to buy Foster Wheeler AG for $3.2 billion. Continental expects sales to grow 5%. Suedzucker net declined 6% to

[R]3:40 PM Frankfurt – Alcatel Lucent plans to sell-off its enterprise business. Amec agreed to buy Foster Wheeler AG for $3.2 billion. Continental expects sales to grow 5%. Suedzucker net declined 6% to €143 million and sales dropped 7%. Sanofi offered 12% stake in Alnylam Pharma.[/R]

In London trading, FTSE 100 index rose 0.04% or 2.76 to 6,743 and in Frankfurt the DAX index rose 0.05% or 4.87 to 9,478.

In Paris, CAC 40 index slid 0.01% or 0.29 to 4,250.

Alcatel Lucent SA climbed 4.9% to €3.27 after the France-based network-equipment maker plan to sell-off its enterprise business to potential buyers including Siemens AG.

Amec Plc gained 1.6% to 1,096.17 pence after the U.K.-based engineering management service provider agreed to buy U.S.-based Foster Wheeler AG for £1.9 billion or $3.2 billion. Foster Wheeler shareholder will receive new Amec shares and $16 in cash together representing $32 for each share.

Continental AG increased 1.3% to €160.20 after Germany-based automotive parts maker said expects sales to increase 5% or between €35 billion and $47.85 billion and adjusted EBIT to climb 11.2% to €3.7 billion.

Suedzucker Mannheim Ochsenfurt AG surged 9.2% to €21.17 after Germany-based agricultural commodities processor said third-quarter sales dropped 6.9% to €1.98 billion from €2.13 billion a year ago.

Net earnings in the quarter declined 5.9% to €142.6 million compared to €151.5 million and diluted earnings per share fell 3.5% to €0.55 from €0.57 a year earlier.

The sugar producer lowered its consolidated operating profit and forecasted to decline to €650 from €974 million of previous year.

Sanofi SA slipped 1.3% to €73.06 after France-based healthcare company agreed to buy a 12% stake in U.S. based Alnylam Pharmaceuticals Inc. for $700 million.

Shares of Alnylam Pharmaceuticals surged 65.4% to $107.97.

UBS AG jumped 2.4% to 18.63 francs after the Switzerland-based bank is not considering to spin-off its investment-banking unit to meet regulators’ demands, said chief executive officer Sergio Ermotti today.